Asian Stocks Suffer from Fears of Syria Intervention

Asian markets were mostly lower Tuesday, tracking losses in Wall Street amid fears of U.S. military intervention in Syria.

U.S. Secretary of State John Kerry warned Syria it would face action over the "moral obscenity" of a chemical weapons attack, as expectations grow that Washington and its allies are preparing to launch a punitive missile strike.

Oil prices rose over fears of renewed instability in the Middle East. New York's main contract, West Texas Intermediate for delivery in October, rose 57 cents to $106.49, and Brent North Sea crude for October added 45 cents to $111.18.

Kelly Teoh, market strategist at IG Markets Singapore, said investors were anticipating some kind of U.S. action against Syria.

"Over the last couple of days we have seen footage (of the alleged chemical attack) and it's really heinous," she told Agence France Presse. "It depends on whether the world will get together and stop this. Investors are digesting that."

The dollar fell to 98.14 against the yen compared with 98.51 in the U.S. late Monday. The euro bought $1.3371 and 131.46 yen, compared to $1.3369 and 131.68 yen.